Second European Hydrogen Financial institution auction with €1.2 billion funds is formally launch

Dwelling Hydrogen Second European Hydrogen Financial institution auction with €1.2 billion funds is formally launch

December 3, 2024,
by

Ajsa Habibic

The European Payment (EC) has formally opened the 2nd auction below the European Hydrogen Financial institution, by map of the Innovation Fund (IF24), to allocate €1.2 billion from EU Emissions Trading Plan (ETS) revenues to strengthen producers of hydrogen labeled as Renewable Gasoline of Non-Biological Origin (RFNBO) located within the European Financial Location (EEA).

Courtesy of the European Payment; Photo by Mauro Bottaro

The auction was as soon as launched on December 3, 2024, within the first week of the EC’s fresh mandate, and can cling to end on February 20, 2025.

The funds for the 2nd auction has been increased by €400 million when put next to the first IF23 Public sale, which awarded nearly €720 million to seven renewable hydrogen projects in Europe.

The fresh IF24 Public sale will strengthen projects for renewable hydrogen production no matter the sector all over which it would possibly perhaps perhaps probably well well be consumed, with a genuine funds of €1 billion. The final €200 million funds is dedicated to hydrogen production in projects with off-takers within the maritime sector.

  • Posted: 2 months within the past

As properly as, the EC offers an ‘Auctions-as-a-carrier’ mechanism, which permits Member States to finance projects that had philosophize within the auction nonetheless were now not chosen for Innovation Fund strengthen because of budgetary limitations. This enables Member States to use nationwide funds to strengthen projects on their territory with out the must escape a separate auction at a nationwide diploma.

Spain, Lithuania, and Austria cling only within the near past launched their participation in Auctions-as-a-Provider this twelve months, pledging as a lot as €836 million in nationwide funds to strengthen renewable hydrogen production projects located in their worldwide locations.

To remind, the EC launched the first auction below the European Hydrogen Financial institution in November 2023. It obtained 132 bids from 17 European worldwide locations. 119 proposals were stumbled on to be eligible and admissible and were then ranked fixed with their philosophize stamp, and evaluated by the European Native climate, Infrastructure and Environment Executive Agency (CINEA), and seven a success projects were revealed in April 2024.

  • Posted: 7 months within the past